Where a taxpayer owns a property as his or her main residence but is obliged to live elsewhere in job-related accommodation, the property could be deemed not eligible ... Continue Reading
Should a property that was initially a main residence be converted into flats and sold, PPR will be denied in respect of the gain attributable to the period of ownership ... Continue Reading
If one spouse/civil partner owns rented properties solely in their own name but is a higher or additional rate taxpayer and the other spouse/civil partner is not, ... Continue Reading
‘Value shifting’ occurs when the value of a property is altered as a result of passing an interest in the property to another. Anti-avoidance rules ... Continue Reading
When a commercial property is sold, part of the selling price will include the value of fixtures that have qualified for capital allowances in the seller’s ... Continue Reading
Ownership (1) By default, rental profit from property jointly owned by spouses/civil partners is taxed 50:50 irrespective of the underlying respective proportion ... Continue Reading
PPR relief is not allowed on the sale of property purchased as the residence of an elderly or infirm (‘dependent’) relative. ‘Dependent relative’ ... Continue Reading
Expenses may be incurred in the setting up of a letting business before the first rental receipt is received (for example, travel, phone, advertising, etc.). If ... Continue Reading
The usual practice when letting a property is for a tenant to pay a deposit to a landlord when moving into the property. The deposit is returned at the end of the ... Continue Reading
HMRC do not have the power to tell a landlord how much to charge for the rental of their property. However, they can restrict the amount of expenses claimed against ... Continue Reading
